The nine largest US airlines will collectively report $2.4 billion in quarterly profits on $33.3 billion in revenues next week, according to Robert Herbst of the site AirlineFinancials.com. By my calculations, those airlines will have collected $2.25 billion in ancillary fees during the same period.
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Suffice it to say fellow travelers, the days of excusing the airlines for nickle and diming us every step of the way because, “They need to make a profit,” is over. Airline profits are rolling in.
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Let’s treat airlines like profit-making entities instead of like wards of the state. If the last decade was a disaster for major airlines, the next decade is shaping up to be nirvana unless we are faced with an unexpected oil shock and a series of volcanoes.
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While U.S. airlines are losing money hand over fist — despite predictions to the contrary — European carriers like Lufthansa, Swiss, British Airways and Air France/KLM are raking in the dough. What’s up with that?
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WestJet in Canada reported a $53 million profit and Finnair checked in with a profit of $8.6 million.
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